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Despite Beijing and Nanjing banks withholding interest discounts for first-time home buyers, housing prices continue to rise in major cities.
In Beijing, new home sales increased 13 percent in August from the previous month, while pre-owned homes rose 24 percent. Average housing prices rose by more than 10 percent. That's the largest monthly increment since the central government unveiled speculation curbing measures in April.
In Shanghai, transaction volume grew by 70 percent in August to the prior month and the average price was up 10 percent month-on-month. Southern cities, Shenzhen and Guangzhou, have also seen figures climb in August.
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